The CSL Ltd (ASX: CSL) share price is in the green today after the company presented at the 2022 Macquarie Australia Conference in Sydney.
CSL shares are currently swapping hands at $275.38, a 1.82% gain. In contrast, the S&P/ASX 200 Index (ASX: XJO) is 0.1% lower at the time of writing.
Let’s take a look at what CSL reported today.
Why is the CSL share price lifting?
CSL informed the market that plasma collections are now at roughly the same level as prior to the COVID-19 pandemic.
In a presentation at the Macquarie conference, CSL also advised the company’s gross margin is predicted to return to pre-COVID levels in the future. CSL is working on technology improvements to plasma collection, reducing donation time by 30%.
CSL reported capital expenditure (CAPEX) is expected to be about $1.2 billion in FY22.
The company also highlighted the benefits of the Vifor Pharma acquisition. CSL is expecting regulatory approvals and closure on this deal by mid-2022.
CSL conducted a $750 million share plan for the acquisition in February, receiving strong support.
The CSL share price climbed nearly 2% in April amid multiple positive broker notes. Citi has placed a $335 price target on the company’s share price. This is nearly a 22% upside on the current share price.
CSL share price snapshot
The CSL share price has climbed 1.55% in the past year but it has fallen more than 5% year to date.
For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned nearly 5% over the past year.
CSL has a market capitalisation of about $132.6 billion based on today’s share price.